Verified, a Stockholm, Sweden-based provider of Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance solutions, acquired Pliance, a Stockholm, Sweden-based RegTech startup which is specialized automated financial crime compliance.
The amount of the deal was not disclosed.
With the acquisition, Verified will strengthen its position in the European market, as it continues to expand and diversify its compliance services. By integrating Pliance’s advanced technology and expertise, the company will be able to offer a more comprehensive suite of KYC and AML solutions, enabling businesses across the region to efficiently and effectively comply with complex regulatory requirements.
The deal follows Verified’s recent announcement of the raise of €31M from Verdane and the acquisition of Assently, a digital identity verification company.
Led by CEO Siam Choudhury, Pliance is a RegTech company specializing in automated financial crime compliance. By automating AML processes such as PEP, UBO, sanction screenings and ongoing monitoring for financial institutions, the company streamlines the compliance process, helping businesses efficiently detect and prevent financial crime. It is dedicated to providing businesses with the tools and expertise they need to maintain compliance and protect their reputation in an increasingly regulated environment. The technology will complement Verified’s existing suite of KYC/AML services, including its partnership with Assently, which specializes in secure and user-friendly digital identity verification.
Led by CEO Tommy Jarnemarck, Verified is a provider of KYC and AML compliance solutions, offering a suite of services designed to help businesses navigate the complex regulatory landscape. It partners with over 4,000 customers in regulated and unregulated industries including healthcare, financial services, insurance, travel and construction sectors.
FinSMEs
12/05/2023